SRO507 scope limited to three items

Published August 24, 2003

ISLAMABAD, Aug 23: The Central Board of Revenue will issue a notification shortly to limit the scope of clause (B) of SRO507 to only three items.

A senior official at the CBR told Dawn on Saturday that the amendment in the budgetary SRO would be issued following the recommendation of the Economic Coordination Committee (ECC).

The anomaly committee appointed by the government has already recommended the scope of the SRO to three items — air-conditioning, chilling plants and humidification plants; cranes and propane storage tank, heat exchanger and gas separators.

These items manufactured from imported raw materials under the SRO507 could only be supplied to registered persons for claiming input tax adjustment on it.

Earlier, the FPCCI proposed 16 items which was later reduced to six items that could only be supplied to the registered persons. However, the anomaly committee reduced it to only three items.

Besides this list, the official said all other items manufactured from imported raw materials under the SRO507 could be supplied to the non-registered persons for claiming input tax adjustment on it.

The government has already deferred the implementation of SRO507 till August 31 at the constant demand of the business community.

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